The Highest AML Fines of 2023 The ever-evolving nature of the financial world and regulations to keep up with the technological trends and new methods of financial crimes caused high levels of increase in the anti-money laundering (AML) related fines imposed on the financial institutions and other organizations from different industries. While [...]
What is G20’s 2027 Vision for Cross Border Payments? Cross-border payments play a vital role in the seamless operation of the international economy, and their significance continues to rise as the world's economies become increasingly interlinked through digital means. These payments have been growing at a compound annual growth rate of 5%, [...]
Fineksus Launches API Access for AML Name Screening Solution with the Inspector API Fineksus proudly announces the official launch of Inspector API. This dedicated platform for API users is ready to redefine the landscape of AML Name Screening technology, offering a cost-effective gateway to Fineksus' advanced solutions. This innovative solution sets itself [...]
What is Banking as a Service (BaaS) and Why is It Important The term of inclusivity has been an effective concept in the finance industry since the stakeholders aim to offer as many and various services to their customers in order to keep them in their portfolio and prevent them switching into [...]
How Has Compliance Landscape Shaped in 2023? 2023 has been a year of challenges for the financial regulatory compliance landscape in the shadows of inflation fluctuations in the world, longstanding influence of the global pandemic, important developments and tensions in geopolitics, continuously increasing cost-of-living and fast-changing technological enhancements. In order to adapt [...]
What are the Financial Crime Trends in 2023? The acceleration of technological advancements has boosted the digitalization process of the financial industry at an unexpected pace. This has resulted in two different outcomes for the financial world. The overall financial services industry evolved and quickly adapted itself into the needs of the [...]
What are Payment Hubs and How to Navigate Them in 2023? In today's rapidly evolving global financial landscape, businesses are constantly seeking ways to reduce fragmentation, streamline their payment processes, enhance efficiency, ensure compliance and achieve a more unified approach towards the payments industry. Payment hubs have emerged as a pivotal solution [...]
Banking in the Metaverse: Navigating the Digital Frontier As technology keeps pushing the boundaries of what we once thought possible every day, the concept of the metaverse has emerged as a tantalizing notion. It's a digital realm where virtual and augmented reality coincide, offering a playground for creativity, social interaction, and trade. [...]
What Are the Fraud Trends in 2023? In our increasingly digital world, where technology continues to shape our daily lives, the realm of fraud has also evolved, adapting to the latest advancements. In 2023, with numerous advancements in the financial services world, new and sophisticated fraud trends are also emerging simultaneously, challenging [...]
Greylist Inclusions and Upcoming Projects Listed in FATF Plenary June 2023 On June 21-23, 2023 FATF had its third plenary meeting in Paris, France. The discussions in the plenary mainly focused on the measures for the anti-money laundering (AML) and the countering of terrorist financing (CFT) in Luxembourg, the additions to the Grey [...]
